According to Counterpoint Research, Apple led the Indian market in 2024 with a 23% share in terms of the value of total smartphones supplied in the country
New Delhi: Apple is very keen on India where it has seen record business during the December quarter with iPhone emerging as the top-selling smartphone model, a top company official said on Friday.
During the company’s earnings call, Apple CEO Tim Cook said India offers a huge growth opportunity for the company.
“We have had great results in the emerging market. I am particularly keen on India. India has set a December quarter record. iPhone was top selling in India for the quarter. It is the second-largest smartphone market in the world and the third largest for PCs and tablets. So there is a huge market,” he said.
“We have a very modest share in these markets. I think there are a lot of upsides there…,” Cook said.
He said the company has announced plans to open more Apple stores in India.
According to Counterpoint Research, Apple led the Indian market in 2024 with a 23% share in terms of the value of total smartphones supplied in the country.
In the December quarter, Apple had an 11% share in the Indian smartphone market.
Cook said Apple is expanding Apple Intelligence and will launch a localised English version in India in April.
On financial performance during the December quarter, Cook said Apple has registered a record revenue of $124.3 billion, up about 4% on a year-on-year (YoY) basis.
The company, however, posted a decline of about 7% in net income to $36.33 billion during the October-December period from $33.91 billion a year earlier.
The product sales of the company grew 1.5% to $97.96 billion from $96.45 billion and services sales grew about 14% to touch record high quarterly revenue of $26.34 billion from $23.11 billion on a year-on-year basis.
The iPhone sales during the quarter declined marginally to $69.13 billion from $69.7 billion a year ago.
Sales of Apple’s Mac PC increased 15.5% to $8.98 billion from $7.78 billion and iPad sales grew about 15% to $8 billion from $7 billion on a year-on-year basis.
The company’s sales grew across all geographies except in China where it manufactures the majority of Apple products.
Apple sales in China declined 11% to 18.5 billion during the December quarter from $20.8 billion a year earlier.
